Chicago Atlantic provides debt financing to GF Sports & Entertainment

The ATP 500 tennis tournament will host professional players at the Dallas Cowboys' headquarters

CHICAGO–(BUSINESS WIRE)–Chicago Atlantic Admin, LLC («Chicago Atlantic») announced that it served as administrative agent for the financing of a senior secured credit facility for GF Capital Sports Holdings, LLC («GF Sports & Entertainment»). GF Sports & Entertainment owns and operates the Dallas Open, a tennis tournament recently elevated to ATP 500 status, which will host world-class professional tennis players at the Ford Center at The Star in Frisco—the home and training facility of the Dallas Cowboys—beginning in February 2025.

« We view alternative sports and sports technologies as emerging markets with high value-added that are generally inelastic in response to major economic trends. Tournaments that have been upgraded from ATP 250 to ATP 500 status have historically seen rapid financial growth because they attract top-tier players and fill general-purpose arenas. »By combining this success with GF Sports & Entertainment’s proven track record, we are extremely optimistic about the Dallas Open and proud to be a debt partner for this rapidly growing alternative asset class,” said Tony Cappell, founding partner at Chicago Atlantic.

The increased accessibility of sports through social media and streaming platforms has enhanced the ability of a diverse range of sports to monetize their subscriptions. Combined with improvements in the economics of sports management, this shift has led to increased demand and transaction volume within the asset class, with niche sports viewed as offering significant opportunities.¹

« Chicago Atlantic and GF Sports & Entertainment share a common mission to seize opportunities that others may overlook, by investing our talents, energy, and resources in unique opportunities that offer superior returns. »We have seen Chicago Atlantic forge genuine strategic partnerships in the lower-middle market, and we are thrilled to leverage their growth financing strategies during this period of unprecedented demand,” said Gary Fuhrman, chairman of the board at GF Sports & Entertainment.

^{1 S&P Global Market Intelligence, March 2024.}

About Chicago Atlantic

Chicago Atlantic is an alternative investment manager in the private markets focused on sectors and companies where demand for capital exceeds traditional supply. Founding partners John Mazarakis, Tony Cappell, and Andreas Bodmeier established Chicago Atlantic to provide capital solutions to state-licensed cannabis operators. The firm’s private investment strategies have evolved to include opportunistic credit, private equity, digital mining, and social impact investing, with a focus on lending to niche sectors, specialized asset-backed lending, liquidity solutions, and growth and technology financing. Chicago Atlantic has closed more than $2.1 billion in credit facilities to date. The 85 professionals on the Chicago Atlantic team are based in offices in Miami, Florida, and Chicago, Illinois. For more information on Chicago Atlantic’s financing products, visit chicagoatlantic.com

About GF Sports & Entertainment

GF Sports & Entertainment is a live events and sports entertainment company founded by the New York-based private equity firm GF Capital. In addition to the Dallas Open, the company owns and operates the Atlanta Open ATP 250 (which will be held for the last time in July 2024), the National Lacrosse League (NLL) team, the Ottawa Black Bears, and the World Long Drive Tour. The company produces unforgettable events and exciting competitions, unique concepts, and content with global reach—but above all, it builds franchises that are both viable and sustainable. To learn more, visit GFsportsandentertainment.com.

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